In the last couple of weeks, campaigns have spent $475 million in a last ditch effort to win your vote. However they are not trying to convince you why their candidate is the best, they are trying to tear down the opponent. Out of the $475 million spent, 75% was used to attack opponents. In other words, campaigns have spent 3 times more money attacking the other side. Our candidate is not really that good, but theirs is so much worse.
The House Majority PAC has raised almost $10 million. Its goal is obvious. They want the Democrats to win back the House. The House Victory Project also raised $3.3 million. They have the same goal as the House Majority PAC. On the other side is the Protect the House PAC. However, it has only raised $2.7 million over the last month and change. Trump has not raised a lot of money recently, but he is definitely sharing the wealth.
As everyone knows, this is not a Presidential Election year. However, that has not stopped President Trump from raising a lot of money. Since the beginning of 2017, Trump has raised $113 million. A good amount coming from the Trump Make America Great Again Committee to the Donald J Trump for President PAC. However, we focused on which states had the most “grass roots” donations.
Beto has raised record amounts of money in his attempt to beat Ted Cruz. However, he has not reported how he is spending the money since the end of June. That is almost 4 month without an expense report filed with the FEC. He is clearly not filing monthly reports and if he is reporting quarterly then the expenses would have come through earlier this month. The FEC required that quarterly filers have a report due Monday, October 15. That was 10 days ago.
Over the last couple of months, $83 million dollars have been “Transferred” between different PACs. As we have mentioned before, once your donation is in the system it can pretty much end up anywhere. The Trump Victory PAC gave the Republican National Committee (RNC) $10.5 million. The RNC turned around and gave $375 thousand to the Massachusetts Republican Party, $281 thousand to the Republican Party of Florida and $194 thousand to the Michigan Republican Party.
We looked at equal to or greater than $5,000 donations and found that between both Republican and Democratic Parties people have donated almost $1.6 billion. The Republicans have received $725 million and the Democrats have received $681 million. The rest of the 1.6 billion went to currently unmapped PACs. While the Republicans have raised more money, they had 3,000 fewer donations. The Democrats received 28,400 donations equal to or greater than $5,000.
One of my favorite quotes from the book Hitchhiker’s Guide to the Galaxy reads, “It is a well-known fact that those people who most want to rule people are, ipso facto, those least suited to do it. To summarize the summary: anyone who is capable of getting themselves made President should on no account be allowed to do the job.” There are few statements more true that this one. We looked at candidates who are investing a lot of their own money into their campaigns.